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Number of Foreclosure Houses Affects Christmas Gift-Giving

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By : Rudson Tren    99 or more times read
The huge number of foreclosure houses all around the country has diminished the joy of the coming 2010 Christmas season. According to homeowners facing foreclosure-related problems, the idea of spending Christmas faced with such problems is quite frightening.

Majority of them have revealed that they are torn between buying gifts for their children and saving the money for the next mortgage payment. This dilemma is clearly understood by the Bruce Roberts Toy Fund in Maine. The organization has stated that it will give troubled families assistance in obtaining Christmas gifts for their children.

The Fund purchases presents for kids whose families are facing foreclosure troubles. Their efforts are financed by donations provided by the readers of the publication The Portland Press Herald/Maine Sunday Telegram. The organization will serve the areas of Knox, Sagadahoc, Cumberland, Lincoln and York.

Under the Fund’s program, children 18 years and younger can receive gift packs that are appropriate for their gender and age. Children of families in foreclosure houses and those whose parents have lost their jobs are the priorities of the group. Thousands of Maine families are expected to apply for assistance this Christmas season.

A report issued by the Maine Bureau of Consumer Credit Protection reveals that over 32,000 homeowners in the state have received notices of default from lenders during the period June-September 2010. The number is expected to rise further in the last three months of the year. Troubled homeowners have stated that, despite the troubles that they face regarding their mortgages, they are still hoping that their kids will have a happy Christmas.

Meanwhile, consumer advocacy groups have urged homeowners not to ignore the default notices and to immediately seek for loan modification and other assistance from local authorities. They also encouraged borrowers to get in touch with their lenders the moment they receive their notes and try to come up with an alternative to foreclosure.

Local officials remind homeowners that ignoring the paperwork will not help them in any way. They added that the Christmas season will not prevent foreclosure proceedings from being pursued, although they do hope that fewer foreclosure houses will be added to the tally this coming December.
Original post: on, your source of foreclosure homes.

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